SSAS now 'vehicle of choice' for scammers - TPR

In his latest blog, The Pensions Regulator (TPR) executive director argued small self-administered schemes (SSASs) had gone "far beyond the scope of the policy intent that created them", and in fact self-invested personal pensions (SIPPs) were a safer vehicle for consumers who want control over the investment of their pension pot. "SSASs are exempt from many of the legal duties designed to protect members that are applicable to larger schemes," said Warwick-Thompson (pictured). Further, the ease with which a SSAS can be established, and the minimal legal and reporting requirements for su...